Zinc ingot trading flat in China
2014-04-08 09:26:24 [Print]
BEIJING (Asian Metal) 8 Apr 14 - Zinc ingot prices increased slightly in China last Friday, but there was little favorable news in the world, so there will be little room for prices to rise further. Trading remains flat on zinc ingot market.
A trader from Shanghai offered SHG zinc ingot with Shuangyan brand at RMB14,730-14,740/t (USD2,391-2,393/t) on the spot market last Friday, up by RMB20-30/t (USD3-5/t) compared with last Thursday. “I do not think zinc prices will increase further as the demand from end users is still weak,” said the source. “Zinc ingot supply was limited on the spot market recently as some zinc smelters reduced production for maintenance and they were reluctant to sell the metal at low prices.”
The trader sold around 10,000t of zinc ingot in March, and trading remained flat at the beginning of April.
A trader from Guangdong offered RMB14,720/t (USD2,390/t) for SHG zinc ingot with Qilin brand on the spot market last Friday, RMB50/t (USD8/t) higher than last Thursday. “We sold 100-200t of zinc ingot per day and trading was inactive recently due to weak demand,” said the source. She believed zinc market will remain inactive in the short term.
As Hechi Nanfang and some other zinc smelters reduced zinc ingot production for maintenance and zinc ingot prices dropped sharply in March, zinc ingot supply decreased on the spot market.
A trader from Shanghai offered SHG zinc ingot with Shuangyan brand at RMB14,730-14,740/t (USD2,391-2,393/t) on the spot market last Friday, up by RMB20-30/t (USD3-5/t) compared with last Thursday. “I do not think zinc prices will increase further as the demand from end users is still weak,” said the source. “Zinc ingot supply was limited on the spot market recently as some zinc smelters reduced production for maintenance and they were reluctant to sell the metal at low prices.”
The trader sold around 10,000t of zinc ingot in March, and trading remained flat at the beginning of April.
A trader from Guangdong offered RMB14,720/t (USD2,390/t) for SHG zinc ingot with Qilin brand on the spot market last Friday, RMB50/t (USD8/t) higher than last Thursday. “We sold 100-200t of zinc ingot per day and trading was inactive recently due to weak demand,” said the source. She believed zinc market will remain inactive in the short term.
As Hechi Nanfang and some other zinc smelters reduced zinc ingot production for maintenance and zinc ingot prices dropped sharply in March, zinc ingot supply decreased on the spot market.
Zinc Ingot 99.995%min In warehouse Tianjin
Unit:RMB/mt
China refined zinc producers' inventory statistics by province by month
Unit: mt
